Digital Sky Technologies invests in Facebook
May 27th, 2009 Leave a comment Visited 52 times, 1 so far today
Digital Sky Technologies invests in Facebook
Facebook has confirmed that they have received investments from the Russian Internet investment firm Digital Sky Technologies.
Digital Sky Technologies has invested USD 200 million in Facebook to receive around 2% stake in the social networking giant.
DST is already an investor in leading Russian online giants including Mail.ru and Vkontakte.ru.
This fresh investment puts the value of Facebook network at around USD 10 billion.
This is down from around USD 15 billion valuation when Microsoft had invested $240 million in Facebook, in return for a 1.6 percent stake, in 2007.
Facebook chief Mark Zuckerberg said that they were not really looking for investments but they decided to take the offer to have a cash buffer for future growth needs.
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TechWhack on Facebook
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July 14th, 2009 at 06:32 am
Hopefully the information acquired by facebook on its users will remain confidential.